Bexplus Exchange Review (Crypto Exchange Review + Fees + Coin List)

Bexplus is a Hong Kong-based cryptocurrency and derivatives exchange that launched in 2017.

The exchange does not require KYC (Know Your Customer) identity verification protocols to be completed for use of the exchange, however US users cannot use the exchange as per its TOS.

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History of Bexplus

Bexplus was launched in Nov 2017 and registered in England and Wales. Besides Hong Kong, it also has offices worldwide. The exchange serves standard retail users as well as professional derivatives traders from around the world.

According to the official website, the company is registered in Saint Vincent and the Grenadines, with offices in Singapore, Japan, the US, and Brazil. The Bexplus founding team is made up of professionals from the FX industry, investment banking, and early blockchain adopters and architects.

The exchange has focused on offering fast order execution speed and low latency to provide a professional and beginner-friendly platform. In 2021, Bexplus also has obtained MSB licenses from the US and adheres to compliance and regulation operations. The exchange is also licensed by the Saint Vincent and the Grenadines Financial Services Authority (SVGFSA).

Bexplus is best for:

All types of beginner, intermediate, and professional cryptocurrency derivatives users and traders who desire access to a derivatives-only crypto exchange without KYC
Traders who desire access of up to 100X leverage, perpetual futures contracts, competitive trading fees, and other Bexplus services such as Copy Trade.

PROS

100x and perpetual futures trading products
No KYC
Global crypto markets
Only derivatives Exchange
Advanced charting and trading features
Order book and advanced order types
Trading simulator
Copy Trade feature
Affiliate program & deposit bonus

CONS

No spot or investment products
Few futures trading pairs
Flat maker-taker fee model

Pros & Unique Features

The best features of Bexplus are its availability of 100x leverage and perpetual futures trading products without the requirement of KYC.

With access open for many countries around the world, this means worldwide crypto futures traders can trade easily on Bexplus by depositing crypto collateral and without having to verify their identity. 100x leverage is harder to find now in the global crypto markets, so this is a strong feature and benefit.

In terms of trading, there are no spot or investment products offered at Bexplus and it is instead geared to be a derivatives exchange, offering only BTC, ETH, ADA, DOGE, and XRP perpetual futures contracts, which can be seen here on its trading platform. This is a small offering of futures products, but the platform offers advanced charting and trading features as well as access to the order book and advanced order types.

There is also a trading simulator offered for users to be able to practice trading without the risk of real loss or need for real funds. In addition, there is a feature called Copy Trade which allows users to subscribe to strategies made by other users and copy their trades.

In regards to interest earning or staking options, Bexpus offers interest rates on BTC deposits on the exchange wallet only, with annualized interest rates of 20% or higher, depending on the BTC deposit amount.

As for customer support, Bexplus offers support via a live chat bot and email in multiple languages and users can also access support via logging into the exchange.

Users can also enjoy a 100% deposit bonus with a 10 BTC maximum and an affiliate program from inviting their friends to trade at Bexplus. The Bexplus team also runs a blog with frequent educational posts and updates and other educational material under a product known as Cryptopedia. Some of this material is geared to beginners, such as the Beginners’ Trading Guide.

Cons & Disadvantages

The main disadvantage of Bexplus is its lack of a large variety of crypto futures trading pairs. Compared to other leading derivatives exchanges such as Binance Futures or FTX which are known for catering to advanced traders and listing new and hot futures pairs, Bexplus offers only 5 trading pairs total.

Hence, there is a serious lack of choice for traders using Bexplus and thus it is geared to those solely wanting to trade these 5 main pairs without KYC, which is an advantage over other exchanges.

Additionally, the other major disadvantage is that Bexplus’s crypto financial services offerings are nonexistent beyond the interest-earning BTC wallet itself. There are no other provisions for staking or earning yield. Though Bexplus brands itself as solely a derivatives trading platform, so this is to be somewhat expected, but other major derivatives platforms in the modern day crypto market do offer other financial services and features.

Another disadvantage is the exchange’s flat maker-taker fee model that instead charges a flat fee based on the trading pair, without any tiered volume incentives or additional maker rebates.

Unlike many other crypto exchanges, this means that market makers, or liquidity providers, are not given any incentives to provide more liquidity in this fee structure, and high volume traders cannot achieve lower fees than the standard fee model.

Bexplus Fees

Bexplus charges a flat fee schedule on trading fees, with the fee being the exact same for both market makers and takers, but dependent on the trading pair in question, as seen in the table below.

There are no incentives or tiers based on trading volume or for liquidity providers, unlike at many other derivatives exchanges, and this is disadvantageous to market makers, but the BTC/USDT perpetual futures pair standard fee is 0.075%, which is a fairly competitive fee if compared to other exchanges.

However, high volume traders could otherwise receive net rebates or pay 0 fees at other top exchanges that offered tiered fee structures.

Trading fees are incurred when an order is filled by the exchange’s matching engine. If an order does not execute, there is no fee charged until it does execute at a later point, or it can be canceled. The full fee schedule can be found here.

Bexplus Futures Pair Trading Fees

Trading Pair	Max Leverage Offered	Trading Fee
BTC/USDT	100X	0.075%
ETH/USDT	100X	0.095%
ADA/USDT	100X	0.121%
DOGE/USDT	100X	0.135%
XRP/USDT	100X	0.135%

Other Fees

Bexplus charges the following deposit, withdrawal, and other fees:

No account creation or maintenance fee
No deposit fees for any digital asset
Overnight financing fee: if a user opens and holds a position past GMT 0:00, a fee in the amount of 0.1% of the contract value will be charged as loan interest. To avoid this fee, the user can close the position before 0:00 GMT.
Withdrawal fees for digital assets are listed publicly. This fee may also partly be determined by the blockchain network fees and may vary depending on network usage.
- Fees range from 0.0005 BTC for BTC and 30 USDT for USDT on the Ethereum network, but 15 USDT for USDT on the TRC20 network. The fee for ETH withdrawal is 0.01 ETH.

Account Tiers & Limits

There are no account tiers at Bexplus.

All users have access to the same levels of account access and are subject to the same fees and rules. Since there is no required KYC, all users who wish to participate in trading both leverage and spot can sign up and start trading without limits.

There are no limits for depositing or withdrawing crypto at Bexplus, but there are minimum withdrawal amounts. All withdrawal requests will be reviewed manually, since Bexplus stores users’ Bitcoins in a multi-signature cold wallet.

There are also minimum trading volumes and minimum position size changes, as well as maximum trading volumes. These trading limits can be noted on this page. These restrictions are set in place for all users for risk management purposes.

Crypto Security

Bexplus provides secure and reliable cryptocurrency trading services, guaranteeing users’ funds and transaction security through distributed servers, cold wallets with multi-signature encryption, anti-DDoS protection systems, and other advanced technologies.

There have not been any reported large-scale hacks of Bexplus. The exchange support team encourages users to strengthen their account security with strong passwords, 2-factor authentication, and by paying attention to phishing attempts.

Bexplus Review Conclusion

Bexplus is a great overall choice of exchange for any derivatives trader interested in getting access to up to 100X max leverage and only wishing to trade these top 5 crypto futures offerings: BTC, ETH, ADA, XRP, and DOGE.

It is also a good choice of exchange for traders who seek access to unlimited trading and deposits/withdrawals with no KYC restrictions and mandates, which is rare to find now, especially with high leverage. Plus, Bexplus seems to be a good quality exchange and has an active MSB license in the US.

While the exchange lacks other extensive crypto financial services or other products that many other derivatives exchanges offer, it is ok to use for beginner to advanced traders. Its trading fees are also fairly competitive at 0.075% trading fees for BTC futures, but they differ based on the trading pair in question. However, there are no other incentives for market makers or for high volume traders, so the trading fee is a flat fee model. For some of the trading pairs, such as the XRP/USDT pair, the fees are as high as 0.135%.

US users cannot use the exchange as per TOS, however KYC is not required, so it could still be used with a VPN. Users looking for lending, borrowing, and staking options, from a regulated exchange with clear security protocols and KYC compliance, or institutional clients looking for other features may find other competitors more valuable.

Bexplus offers access to only 5 crypto futures pairs for all levels of derivatives traders in a KYC-free exchange, with access of up to 100X leverage
Intermediate to advanced traders trading futures who desire access to more advanced trading tools, volume-based or maker-incentive fee tiers, improved regulatory and security protocols, and even more advanced charting may prefer to pick a different exchange such as FTX or Binance, especially if seeking access to more new or popular futures pairs

Other Alternatives

For customers who desire access to spot trading products, as well as a comprehensive and regulated crypto exchange that also offers a host of financial services such as staking and cashback cards, either Crypto.com, Gemini, Coinbase, and Binance can make good alternatives, and all of these also offer greater amount of cryptocurrencies to trade along and far better reputation and security.

All types of users from beginners, buy-and-hold investors, and low volume traders would much prefer the features and functionality of Voyager and Coinbase with their brand presence, US regulatory approval, and high security precautions, but KYC is required for these options, unlike at Bexplus.

Coinbase is designed for buy-and-hold investors or casual to intermediate cryptocurrency users – Coinbase offers 402 pairs vs. Bexplus’s 5 futures pairs—and offers an advanced desktop trading interface as well as a mobile app, but no futures or margin.

Active traders who need access to order books and advanced charting functionality may prefer using Coinbase Pro, FTX, Binance, or KuCoin though their fee structures and product offerings differ and may not be as low as Bexplus’s 0.075% BTC futures trading fees. Most exchanges on the market use maker-taker fee schedules that give volume incentives as well, unlike Bexpus which uses a flat fee model.

For customers who desire to trade and invest in stocks in addition to top cryptocurrencies and do not mind having a smaller selection from which to choose or only desire access to the top 20 cryptos on the market, Webull and Robinhood are brokers that offers US equities and a small selection of cryptocurrencies.

Other competitors to Bexplus include OKX, Phemex, Bybit, and OkCoin, among other derivatives platforms.

Bexplus vs Coinbase

Coinbase is fundamentally meant to be a more holistic exchange offering investment and spot trading products as well as financial services, while Bexplus offers only futures trading without KYC, so the two are not really comparable.

Coinbase offers no leverage or margin. Another major difference is that Coinbase’s fees start at 0.50% for both makers and takers at the lowest fee tier, which is significantly higher than Bexplus’ flat fee tier for its futures pairs.

However, an advantage for high volume traders may be the volume-tiered fees at Coinbase (spot only), which decrease most rapidly over $20M in 30-day trading volume down to 0.05%, which is then lower than Bexplus’s lowest fee for BTC futures pair at 0.075%.

Coinbase also offers much more of a selection of trading pairs compared to that offered at Bexplus, with 440 trading pairs, as well as advanced charting, accessible order books, and advanced order types, which Bexplus also offers.

Coinbase is a public US company and offers transparency into its industry-leading security along with its brand reputation, while Bexplus is not regulated in the USA, but does have an MSB license from the USA.

Bexplus vs FTX

Both of these choices are geared towards advanced derivatives traders, but FTX is the stronger choice.

FTX will win against Bexplus for all intermediate or advanced traders, as FTX offers 323 coins and 492 trading pairs, which is far higher than Bexplus’ limited 5 pairs offering.

Derivatives traders who want to trade margin, extensive crypto futures pairs, or leveraged tokens and options will therefore prefer FTX. FTX however offers a max of 20X leverage, while Bexplus offers up to 100X leverage, so this is the main benefit of Bexplus against FTX.

FTX is known for its extensive futures pairs and top-class matching and liquidation engine for advanced derivatives traders, while Bexplus does offer advanced charting and order books access, but the exchange performance and reliability cannot be compared to that of FTX.

FTX is known for catering to active derivatives traders and optimizing for high order volume and trading execution speed. While neither FTX nor Bexplus can officially used by US persons, US users can use FTX US, and US users could also use Bexplus with a VPN, since no KYC is required, but note that this is technically against the TOS.

FTX US however does not offer any futures trading, but does offer margin limited to select investors. The two exchanges’ fees are comparable, but FTX’s fee schedule is more accommodating for market makers and high volume traders, as well as holders of FTT, while that of Bexplus is a flat fee model, albeit with low fees

International users who can use FTX International would almost likely prefer FTX, but KYC is required for futures trading at FTX.

Bexplus vs Gemini

Gemini is more focused on offering a well-rounded and regulated crypto product with a selection of spot trading coins and financial services such as staking, while Bexplus is a futures trading platform primarily.

Even with fees, Bexplus wins overall: the minimum fee tier at Gemini starts at 0.35% for takers and 0.10% for makers, with a flat transaction fee between $0.99-$2.99 and 1.49% transaction fee for trades over $200, so there are extra fees per transaction and extra “auction” fees, while Bexplus charges flat trading fees for both makers and takers that differ depending on the trading pair in question.

Gemini offers volume incentives while Bexplus does not, both as far as fees go, Bexplus’s fees are overall lower, but it does not offer any spot trading products and its crypto financial services such as staking and custody solutions cannot compare to that of Gemini.

US investors and traders are allowed to use Gemini with KYC verification only, since Gemini is regulated and based in the USA, however as a result, Gemini offers no margin or futures products. Bexplus wins here, since no KYC is required.

Gemini offers 62 coins and 86 trading pairs, another major win over Bexplus’ 5 futures pairs. Another major difference is the existence of Gemini’s interest-earning product and credit card, neither of which exist at Bexplus at the same capacity, though Bexplus offers a wallet for Bitcoin yield.

Bexplus vs Kraken

Kraken is an overall more developed exchange, with margin trading offered at up to 5X leverage even for US investors and several other margin offerings, while Bexplus offers only futures trading, with access of up to 100X leverage.

US users may prefer Kraken for its regulatory compliance and strong track record if they are traders or investors, while Bexplus will be used by someone seeking to trade without KYC.

Kraken uses a maker-taker fee schedule, starting at 0.16% maker fees and 0.26% taker fees at the entry level which is not as competitive as Bexplus’ flat fee schedule (as low as 0.075% for BTC/USDT futures). Market makers enjoy reduced fees however at Kraken and fees also reduce with volume, which is not the case at Bexplus as far as volume tiers go.

Kraken offers a greater variety of cryptocurrencies and pairs (over 90 coins, over 400 pairs), so users who value a large selection and advanced traders who seek margin will prefer Kraken over Bexplus.

If an active trader wishes to trade other instruments beyond crypto and prefers not to KYC, he or she may prefer other exchanges such as OKX or Phemex, but if he or she prefers a much larger selection of crypto only instruments and does not mind KYC, Kraken wins.

Kraken is accessible in 48 US states with KYC and is regulated and licensed by FinCEN in the USA, while Bexplus has an MSB license and does not require KYC, but is not otherwise regulated.

Bexplus vs Binance

Binance is not only the leading global crypto established exchange by trading volume, but is also home to the highest futures trading volume at Binance Futures.

Binance Futures also offers a much larger selection of futures pairs than Bexplus and is known for listing the newest and hottest pairs, as well as for constantly innovating.

The Binance brand and reputation is also much more well-regarded and known than the Bexplus brand, so traders looking solely for the more extensive trading options (for spot or derivatives) such as margin and futures products specific to crypto will prefer Binance, as it offers many USDT futures pairs not found anywhere else besides potentially OKX or FTX.

The main benefit Bexplus will have over Binance is its lack of KYC requirement to trade or use the exchange, and its access of up to 100X leverage, since Binance only offers up to 20X leverage at the moment, and KYC has been required for Binance Futures across the world.

Binance’s maker-taker delineated fee schedule starts at 0.1% which is similar to that of Bexplus, but Binance also offers further 25% reduction in fees if paid in BNB, alongside offering reduced fee tiers for higher volume and even maker rebates. Bexplus’ fee schedule is dependent on the trading pair in question and offers no incentives for market makers or for volume.

Binance also offers a more extensive web and ecosystem of products, support, and liquidity, especially given its larger daily volume as compared to Bexplus. The Binance exchange is not at all accessible to US persons and US customers will have to use Binance US which is a much more limited version of its global parent site, with only 64 coins and 130 pairs, and offers no futures pairs.

Hence, for US users, it is suggested to use Bexplus with a VPN if comparing these two options, but international users who do not mind undergoing KYC can happily use Binance Futures and enjoy its advantages.

All users who value a large selection of cryptocurrencies, products like staking, lending, and more, competitive fee structures, and futures and margin products will also prefer Binance.

FAQ – Frequently Asked Questions

Is Bexplus Safe?

Yes, Bexplus can be considered somewhat safe and trustworthy as an exchange, but not to the level of other top crypto exchanges.

How long does Bexplus Withdrawal take?

All withdrawal requests will be reviewed manually, since Bexplus stores users’ Bitcoins in a multi-signature cold wallet, so withdrawals depend on the speed of the support team.

During 16:00 to 0:00 UTC, withdrawals may take 4-8 hours to process as these hours are busier, but otherwise they may be processed within 1-3 hours.

In general, all crypto transactions on average can take from 30 minutes to several hours for a transaction to be confirmed due to the blockchain, but this is considering after the support team manually has approved the transaction.

Please note that for crypto, the number of confirmations required for actual depositing of funds is determined by every receiving platform individually, for each particular currency, according to its own security standards.

As per its support page, “after the withdrawal request is reviewed, it is expected to arrive in 30-120 min, all depending on the blockchain traffic status.”

Is Bexplus a good exchange?

Yes, Bexplus is a great overall choice of exchange for any derivatives trader interested in getting access to up to 100X max leverage and only wishing to trade these top 5 crypto futures offerings: BTC, ETH, ADA, XRP, and DOGE.

Where is Bexplus located?

Bexplus is located in Hong Kong as per its LinkedIn page, and according to the official website, the company is registered in Saint Vincent and the Grenadines, with offices in Singapore, Japan, the US, and Brazil.

Does Bexplus require KYC?

No, Bexplus does not require any KYC procedures to be completed to use or trade on the exchange.

What are the Deposit and Withdrawal Methods and Fees for Bexplus?

Bexplus offers the following deposit and withdrawal methods, with the corresponding fees:

Crypto assets: deposits and withdrawals—no deposit fees (free). Withdrawal fees depend on the asset (and blockchain network) in question: fees are listed on this fee schedule page.
No fiat deposits or withdrawals, so users will have to use another exchange to obtain crypto assets first to then send into Bexplus

What is the Minimum Withdraw Amount for Bexplus?

The minimum withdrawal amount for crypto assets at Bexplus is not listed on any support/FAQ or fee rate documentation, but are mentioned as being needed on this support page.

For crypto assets, the minimum withdrawal typically depends on the asset in question and may range from as low as 10 USDT to as high as 50 USDT or equivalent in other crypto assets.

There is no maximum withdrawal amount, and Bexplus currently supports withdrawals of BTC (Bitcoin), USDT (Tether), ETH (Ethereum), LTC (Litecoin), EOS, XRP (Ripple).

How do you withdraw from Bexplus?

Steps to withdraw from Bexplus can be found from official support sources here for doing so from its web exchange interface.

Users can withdraw from the wallet by navigating to the “Withdrawal” section of their account page, then picking either the Trading wallet or the Interest wallet, from which to withdraw.

From there, the user should request the withdrawal for the crypto in question, fill in the details of the withdrawal including toggling the correct currency and be sure to include a tag or memo if needed. The withdrawal options including the blockchain network and any associated fees will then populate on the screen.

Finally, the user will be prompted for the 2-FA code, and then will receive an email approval for confirmation.

Once Bexplus approves the transaction, it will show in the blockchain network in question and process therein. The Bexplus team will check and process the user’s withdrawal request as soon as it is received. Then, there will be a withdrawal address confirmation email sent to the user’s registered mailbox.

Is Bexplus a wallet?

No, Bexplus is a cryptocurrency trading exchange that also offers two in-exchange wallets: a trading wallet (for custodying funds with which to use as margin for futures trading), and a second interest-bearing wallet. Both of these wallet options are custodial wallet solutions, meaning Bexplus has rights to the private keys.

How to use Bexplus?

Using Bexplus can be done by going to https://www.bexplus.com/, clicking the “Sign Up” link on the top right, creating an account on the platform, and then depositing any crypto asset trading funds into the account, after which trading can commence for whichever futures pair the user wishes to trade. KYC is not required.

User Reviews

Users on TrustPilot have left only a handful of reviews for Bexplus, all of which are positive. “What I like most is that there are bonuses and demo accounts for each deposit. Deposits and withdrawals are very fast. Suitable for novices like me. Currently trading for one month and it is currently very good.”
Users on Reddit in the main Cryptocurrency subreddit believe Bexplus may be a shady exchange and do not believe its incentive bonus program is legitimate. One user gives an explanation: “bonus is margin only, meaning you can margin against it but you can’t withdraw it. if your margin falls below a certain threshold they reclaim the margin bonus and zero out the account.”
Bexplus’ official subReddit has a post that includes four user reviews, all of which are positive. The users are named but no links to their profiles are given.
Readers can review Bexplus’ presence on Quora for user reviews. When asked what they think about the exchange and if it is safe, one user responds: “Some friends traded futures on it, but I haven’t yet. It’s a popular cryptocurreny futures platform I guess.”